sensex up 376 pts amid volatility
Oil prices rose slightly after tumbling to a 4 month low in the previous session on news of an International Energy Agency coordinated release of emergency stockpiles.The euro rose against the dollar after Germany’s Ifo unexpectedly showed business confidence rising.Late on Thursday, European Union leaders promised more money to help Greece stave off looming bankruptcy, on condition that the parliament in Athens next Tuesday enacts an austerity plan finalised in fraught last minute talks with international lenders.Though still fragile, the agreement was enough to lure investors back into riskier assets which they had dumped in the run up to the pact.”The agreement has been received well by the markets,” said Ian Richards, European equity strategist at RBS.”We have got to get through the votes on June 28. It looks like it will go through, but it’s not a formality. So the market is going to be cognisant of that near term risk.”World stocks as measured by MSCI were up 0.6%, hauling themselves just back into positive territory for the year to date.The pan European FTSEurofirst 300 stock index gained 0.9% after losing more than 1% in the previous session.Earlier Japan’s Nikkei 225 benchmark gained 0.9% to close at a three week high.Foreign exchange traders were less robust about the Greek deal, focusing on the struggles ahead for the euro.”The euro is struggling a bit and this deal isn’t really a game changer,” said Jeremy Stretch, head of currency strategy at CIBC World Markets.
Yet another long run by Taylor allowed Wisconsin to flip the field, and Jack Coan’s 1 yard touchdown plunge gave Wisconsin a 21 7 halftime lead.The Buckeyes had made adjustments in the past, bouncing back from shaky starts against Wisconsin, Michigan State and Michigan in the regular season to post comfortable wins.Yet in none of those games had Ohio State been so thoroughly outplayed on both sides of the ball.The Buckeyes needed a spark, and it came when Fields escaped pressure on third down and lofted a pass downfield to Olave for a 50 yard field flipper. Two plays later, tight end Jeremy Ruckert made a leaping one handed catch in the end zone for a touchdown.Jashon Cornell sacked Coan on third down on the following series, forcing a three and out punt. When Wisconsin lost the handle on the punt snap, Ohio State recovered, leading to Blake Haubeil’s 27 yard field goal.That first defensive possession of the second half set a tone for the remainder of the game.